Member Info for SeaHawk

Sorry people no longer believe a word you say.

The fuss is about the fact that only a few weeks ago they said there was no plans to raise further capital. Trust is important for AIM companies and this will not help.

Still no dates or detail on the drill apart from 'in the immediate future'. So unless we get another RNS before the web chat I am not sure what they will be able to tell us. Bloody knew something was up, these AIM firms are all the same in the end.

Well I said it back in Jun with my concern about no RNS, either equipment not available or they lacked the funding. This drill is their last chance for me, if they fail again after 6 years I will cut my losses.

Derbyshah that's from a long time ago, how time flipping flies, seems like yesterday. There has been a lot of work done since then but I have always been slightly surprised we have never even heard of a sniff at what have after that initial offer of funds that got turned away after those involved changed the terms at the last minute. I guess we have just not proved it up enough yet. Very difficult as a small company to keep funding multiple wells in this part of the world.

Just have a gut feeling something is up. We are supposedly days away from spud on a critical well and there is total silence from the company, nothing official (RNS) at all. I have no idea what is going on, but it's all starting to look and feel odd. Hopefully Derbyshah is right, I would love for BP to come in and help us out or depending on what they are offering take us out completely. I have been hanging on for that $5 a barrel, although I am coming around to excepting $3 would be good enough which given the amount of money required to get this show on the road would do me.

Oh wow my use of 'sand blockage' is your problem it was discussed by many at the time. It was a blockage that they left because they ran out of time, but planned to come back after Theta so obviously they thought they might be able to clear it. However, they did not get back to it because they ran out of time, I wonder why that was. Want to explain in detail why we have not got a RNS yet for summer operations.

Rabito

Did you read the RNS, clearly not.

'Once flow testing commenced and before the well stopped flowing after a short period of time, only 45% of the fracture fluid was produced, with no formation water and small amounts of light high quality 34 degree API oil. Other than the small amounts of oil, no reservoir fluids were produced. The consensus among the Company and external consultants is that there is a blockage preventing any additional reservoir fluid from entering the well bore. Based on all the data, which includes a full suite of logs, sidewall cores, extensive Volatiles Analysis Service ("VAS") work undertaken by AHS/Baker Hughes over the past 12 months, and the testing of the lower zones this year, the Company's expectation for the SMD is that it should produce better than the two lower zones already tested; the Basin Floor Fan ("BFF") and Slope Fan System ("SFS") horizons, where the Company achieved excellent results.

The main priority for the remainder of the winter season is to allow sufficient time to satisfactorily test the BFF at Theta West, with operations expected to commence next week. The current unavailability of alternate testing equipment necessitates the movement of the Coil Tubing Unit and test equipment from Talitha to Theta West. This consequently limits the amount of time available for remedial work at Talitha. If time is available after testing the BFF at Theta West, the equipment will be relocated back to Talitha for additional remedial and testing operations. If, however, time does not permit this season, Pantheon will suspend testing at Talitha to return next season. The Company does not believe the issue encountered diminishes the potential for the SMD on its acreage'.

Rabito operations update 4 March.

How did that argument work out for BP Tony with there spill in the Gulf. On a multi million pound drill somebody was allowed to put cement down the wrong hole. Who was supervising? It was the companies responsibility, they don’t get to say not our problem, it cost us millions.

The wrong frac design was discussed in their webinars and was the reason they went out and hired a frac expert for the team.

Tony. 1). The company took so long that they ran out of time with the rig which could have cleared the blockage.It was required at the Theta well. Initially we were told they had two sets of equipment and that there would be no problem but there wasn’t so we abandoned that well.

2) We spent well over 20m on our 1 mile long horizontal well only to discover we had used the wrong sand and chemicals. You should not be spending 20m to learn a lesson. That expert should have been bought in/contracted in for that well.

My sincere hope is that they have gone quite because they are taking on a partner. As much as I do not want dilution I am coming to the conclusion this is all too big for a small company like PANR to do on their own. The amount of money required to get the whole ball going is huge and we do not seem to have the heft to get kit (Fracking equipment) when we want it. Where is the detail on the junction to the main pipe that we will need Maybe if we had a large company with us things would go smoother and quicker. Question, are we now waiting on when the fracking equipment becomes available again. Willow and Pika are drilling year around now off pads like us.

I was asked a question and I have answered. The balance is that I am still a long term holder with plenty invested in the company. But that does not mean I am not going to question the company and ignore the mess ups. Last week I emailed the company and asked why no RNS with proposed dates and plans. No reply which is unusual as the two previous occasions were answered very quickly. So we wait and see.

AlexDD Well you have askes so, I have been a long time holder now for over 5 years. However, that does not stop me questioning management and what they are up to. There have been a large number of errors over the years that have held us back considerably.

Cement down the wrong hole.

A sand blockage

Wrong fracking chemical and sand used on our horizontal.

Magrez (enough said)

Funding

Just to name a few, I remain a long term holder in the belief that all the external agencies confirm we have found oil. But that does not stop me questioning the company and it should not stop any holder long or short term from wanting to know what is going on. If everything is good then why have they not put out a simple RNS giving proposed dates for the drill. We are less than two weeks from everybody's assumption we are drilling and yet no formal announcement by RNS.

We now know there is only one fracking kit on the N Slope and there are two new fields being developed, Willow and Pika, both using fracking I am led to believe, and no they are not only working in the winter on ice roads, both fields now have all year roads and gravel pads. We might be at the bottom of the que!

So yes I want to know why we have not had our summer programme announced by RNS. If it all happens on time then great, but they should have told us and the wider investing community.

Blackadder it does not matter what they said in a podcast as it's not official you need an RNS for that. Why do you think we are stuck where we are SP wise, yes people got burnt fingers from Magrez but as far as the investment community is concerned PANR are doing nothing and have nothing on the horizon other than some activities towards Dubhe-1. Whilst those of us invested in the company hang off every podcast and every bit of info we can find, the rest of the investment community do not, they go off what an RNS says. The only info in an RNS says activities are targeted for the Dubhe-1 well in the summer of 2025. What activities, when in the summer etc. Why have they not put out an RNS yet?

Border we still have no official confirmation eg RNS telling us they are drilling and when. We have seen the permit requests to DOG and the company have mentioned on Podcasts that they have the intension to drill a 'show me well'. But I would wait for a detailed RNS before assuming any timelines.

Don't forget they have put 12m of that aside to pay off the previous loan. They are going to need to raise some money to keep the lights on after drilling Dubhe-1. Question is if you are the company do you de-risk and do it before the drill or wait until after, when if all goes well the SP should be higher. Either way after paying the for the drill and the gravel pad they are going to need some money to pay the wages.

Dewesa there are several reasons why. Firstly no mention of PANR, secondly we have yet to prove we have the gas with the oil to make it commercially viable. This is why Dubhe is so critical for PANR.

Easily said with hindsight but we should have cracked on proving this up, before chasing more oil with Magrez.

I am getting twitchy as too why we have had no RNS as too what is happening with Dubhe-1. Why no detailed RNS, what is the hold up? Is it availability of fracking equipment or money concerns. Time to officially eg RNS let us know what is going on.

Looks like traders have a strong grip on the SP at the moment. We need official news eg a RNS with timings and details for the next drill.